Poland's 2014 GDP growth may be reduced by more than 0.2 ppt owing to the situation in Ukraine and Russia, and will likely reach 3.1-3.3%, deputy PM and Economy Minister Janusz Piechocinski told reporters on Wednesday.

"I believe that this conflict, but not solely the situation in Ukraine but also what is happening - not only in the diplomatic-political dimension - with the Russian economy, will lower Polish GDP by more than 0.2 ppt," Piechocinski said. "If it weren't for that, I would expect growth near 3.5%."

Taking into account what is happening in Ukraine, Polish economy can expand by 3.1-3.3%, Piechocinski said.

In Q1 2014 growth may have reached some 3%, the official added.

"The economy is accelerating; corporate investments are accelerating and consumption also starts contributing to GDP," Piechocinski said.